FXIFY Review: Are They Legit? My Honest Take 

Hi, welcome to my FXIFY review.

It’s always interesting to come across a new forex prop firm. Someone reached out to me to review FXIFY after reading one of my prop firm reviews.

At first, FXIFY seems like a very promising prospect.

The proprietary trading firm has plenty of unique features that can convince anyone to start trading with them.

However, it’s my job to help you identify reliable forex prop firms.

So, I checked out the company, went through their challenges and here are my findings.

Hopefully, you’ll find this FXIFY review helpful:

FXIFY Pros and Cons

Pros

• Trading Journal
• Single-phase
• Challenge Funding available up to $400,000
• Withdrawal Process

Cons

• Poor Customer Service
• Relatively New Company

What is FXIFY?

A trading company called FXIFY offers investors and experienced traders the opportunity to access up to $400,000 in private money after passing a series of rigorous trading tests. Traders are eligible to get profit-sharing splits of up to 90% and can grow their accounts to $4 million.

By using it, traders can benefit from commission-free trading on a range of products, including stock indices, forex, precious metals like gold and silver, and more. Traders can take advantage of variable leverage options, trade freely, and profit from narrow spreads.

This company lets traders employ Expert Advisors (EAs) and automated strategies on its platform, provided that the traders establish and maintain the original techniques. 

FXIFY Funding Programs and Challenges: Rules and Requirements 

This trading company offers investors and competent traders the opportunity to access up to $400,000 in private funds after passing a stringent set of trading evaluations. Traders are eligible to get profit-sharing splits of up to 90% and can grow their accounts to $4 million.

It offers traders two options for assessment programs: the One-Phase and Two-Phase series. Each has distinct terms and conditions that allow traders to have even more flexibility in meeting their trading requirements.  

Step 1:

• Cost: $99.00
• Platforms: MetaTrader 4/5
• Profit Target: 10%
• Daily Loss: 5%
• Max Drawdown: 10%
• Max Trailing Drawdown: –
• Minimum Trading Days: –
• Refundable Fee: Yes

Step 2:

• Cost: $99.00
• Platforms: MetaTrader 4/5
• Profit Target: 10%
• Daily Loss: –
• Max Drawdown: –
• Max Trailing Drawdown: 6%
• Minimum Trading Days: 5
• Refundable Fee: Yes

Along with costs, platform compatibility, profit targets, daily loss caps, maximum drawdowns, maximum trailing drawdowns, minimum trading days, refundable fees, and procedure instructions, the tables describe the two funding phases in depth.

Access to FXIFY’s exclusive accounts is available through the top trading platforms in the market, MT4 and MT5, thanks to a unique partnership with FXPIG, a reputable retail brokerage that has been providing a range of assets since 2010.

By using it, traders can benefit from commission-free trading on a range of products, including stock indices, forex, precious metals like gold and silver, and more. In addition to having the freedom to trade, traders can take advantage of tight spreads and customizable leverage choices.

As long as the clients’ automated tactics and Expert Advisors (EAs) are original, the company will also accept traders using these tools on its exclusive platform. 

FXIFY Broker: Do They Use a Reliable Platform? 

By showcasing its advanced trading dashboard, FXIFY demonstrates its dedication to technical advancement. This dashboard gives traders a plethora of options and is a significant investment in enhancing the trading experience. The tools include a trading notebook, account metrics, and a comprehensive trade analysis.

Each of these components is essential for evaluating performance and encouraging the growth of trading skills. Furthermore, providing the MetaTrader 4 and MetaTrader 5 platforms improves trading by meeting the needs of different types of traders.

FXIFY offers traders a centralized platform in the form of an enhanced trading dashboard. It enables dealers to carefully consider their transactions and make wise decisions. Traders have access to a wealth of data regarding their trading activities, including trade history, profit and loss analysis, and performance indicators. Large amounts of data let traders pinpoint their areas of strength, weakness, and effective trading strategy enhancement.

Moreover, the addition of the MetaTrader 4 and MetaTrader 5 platforms broadens the scope of services offered by FXIFY by meeting the individual needs and preferences of traders. The MetaTrader platforms are highly renowned for their extensive selection of technical indicators and trading tools, advanced charting features, and user-friendly interface.

Whether traders want the enhanced capabilities of MetaTrader 5 or the comfort of MetaTrader 4, FXIFY ensures they have access to the platform that best fits their trading goals and style.

There are several examples of prop firms with reliable platforms such as Concept Trading and Tradiac.

FXIFY’s commitment to providing traders with a seamless and comprehensive trading experience is evident in its technological investment, as evidenced by its robust trading dashboard and support for the MetaTrader platform. With the use of cutting-edge tools and platforms, FXIFY gives traders the confidence to successfully navigate financial markets and accomplish their trading objectives. 

How to Choose a Reliable Prop Firm:

FXIFY seems like a great option for sure. However, are they legit?

Below are the metrics I use to determine if you can trust a prop firm:

1. Reputation and History

• Firm’s Standing: Look for firms with a strong reputation and a solid track record in the trading community. Check online forums, trading communities, and review platforms for feedback from other traders.
• Regulatory Compliance: Ensure the firm complies with relevant regulations and has a clean regulatory history. This can be verified through regulatory bodies like the FCA, ASIC, or CFTC. While I didn’t find any information about their regulatory status with FCA or ASIC.

2. Profit Split and Funding

• Profit Sharing: Evaluate the profit split ratio offered by the firm. Top firms typically offer profit splits ranging from 70/30 to 90/10 in favor of the trader.
• Funding Options: Consider the maximum capital the firm can provide. Some firms offer funding up to millions of dollars, which can be crucial for scaling your trading strategies.

3. Evaluation Process

• Assessment Phases: Understand the evaluation process required to get funded. Some firms have multi-step evaluations, while others offer direct funding or single-step assessments.
• Time Limits: Check if there are any time constraints for passing the evaluation. Some firms offer unlimited time, which can reduce pressure and improve performance.

4. Trading Instruments and Platforms

• Available Assets: Ensure the firm supports the trading instruments you are interested in, such as Forex, stocks, commodities, or cryptocurrencies.
• Trading Platforms: The quality of the trading platform is crucial. Look for platforms with advanced charting tools, real-time data, and low-latency execution.

5. Fees and Costs

• Transparency: The fee structure should be transparent with no hidden charges. Understand all costs involved, including evaluation fees, platform fees, and any other charges.
• Cost vs. Benefits: Compare the costs with the benefits provided, such as educational resources, mentorship, and customer support.

6. Customer Support and Community

• Support Quality: Strong customer support can enhance your trading experience. Look for firms with responsive and efficient support teams.
• Community and Mentorship: Some firms offer access to trading communities and mentorship programs, which can be valuable for learning and growth.

7. Risk Management and Trading Rules

• Risk Controls: Check the firm’s risk management policies, including drawdown limits and stop-loss requirements. These measures protect both the trader and the firm’s capital.
• Trading Flexibility: Ensure the firm allows flexibility in trading strategies and does not impose restrictive rules that could hinder your trading style.

8. Educational Resources

• Learning Opportunities: Firms that invest in trader education through webinars, workshops, and direct mentorship can be beneficial, especially for novice traders.

9. Reviews and Testimonials

• Trader Feedback: Read reviews and testimonials from other traders to gain insights into the firm’s strengths and weaknesses. Independent review sites can provide unbiased opinions.

While FXIFY scores good points in some of these areas, my top recommendation excels in all of them.

FXIFY Fees: How Much Do They Charge? 

With leverage options up to 50:1 and profit sharing up to 90%, FXIFY stands out as a desirable option for traders who like to take a more cautious approach. Depending on the size of the account, there are one-time refundable costs, but they are nothing in comparison to the opportunities and potential gains for traders. 

FXIFY Proof of Payment:

The company’s dedication to offering traders simple services is seen in its bi-weekly payout structure and up to 15 payout alternatives to select from. The fact that the business offers an on-demand withdrawal option for the first reward demonstrates that they understand that traders require quick access to financial incentives.

As a result, FXIFY continues to push boundaries with its innovative approach. Future developments like Social Copy Trading and FXIFY Pre-Paid Cards, which aim to improve and streamline the trading experience for customers, demonstrate the company’s progressive mindset. 

FXIFY Customer Support: 

FXIFY is unique in that it prioritizes community growth. The company uses a number of social media channels to communicate with traders and provides a wealth of help via its website and live chat feature. Within the FXIFY ecosystem, user dedication fosters a sense of oneness and encourages communication and cooperation. As a result, FXIFY participates in Discord as well, which is frequently used for quick contact although email responses may take longer.  

What Makes FXIFY Unique? 

One Phase and Two Phase Programs are the two funding options offered by the proprietary trading company Fxify. With the help of these applications, traders can modify their trading tactics and trade on the weekends, hold positions overnight, and trade news (needs an add-on, available only for Extended accounts). The unique features of Fxify’s funding packages set it apart from other leading prop firms.

In recognition of the various needs of various traders, the company provides traders with a special chance to personalize their trading accounts at checkout. The size of an account can be customized by traders to fit their trading style and preferences. 

FXIFY Reviews: What Do Their Customers Say?

On Trustpilot, Fxify has rated 4.6 stars out of 5. They’re standing close to the platform on the main stage. Customers have posted 1,013 reviews on Trustpilot in total.

#1. Out of all the prop firms in the industry, this one seems to be the greatest from what I’ve seen. They have excellent customer service and are always available to address any issues or complaints that clients may have. They are a transparent, trustworthy, and honest prop firm that I would suggest a thousand times to any trader looking for one. The best is FXIFY. Payment is easy and hassle-free.

#2. Fantastic Beginning! Everything went well, from registering to passing and receiving the first payout. The team was beneficial. Fxify will become one of the most competitive prop firms if it can only offer a quicker payoff period on regular accounts and no time limit!

#3. Okay, so the prop firm. But the one-step challenge’s maximum drawdown rules aren’t that great. Although there is no 100% in trading, the rules are designed to make it appear as though we must trade with a 100% victory rate. Everything else about it is good. Spread is reasonable.

#4. I use my other two accounts to play during the challenge. My trade on ByC has been closed on SL, and I was shocked to discover that this has only happened on my FXify account. It was a movement that I was not even able to see on trading view charts, let alone on my other accounts. It seems like it was done only to record my score and increase the difficulty of the assignment.

#5. I traded the same way throughout both of my phases, but it appears that I’m not allowed to trade in, which wasn’t made clear when I bought the challenge. Now that my live account has been issued, my trading habits have become prohibitive, even though I’ve traded the same way since the beginning. I would advise staying far away from this prop firm.

Conclusion

FXIFY is an excellent option for traders of all experience levels. Thanks to its cutting-edge technology, personalized services for traders, and flexible trading circumstances, FXIFY maintains its position as a prominent player in the proprietary trading industry.

FXIFY provides a complete solution that accommodates different trading tastes and styles, making it appropriate for both novice and seasoned traders searching for fresh opportunities.

FXIFY is a platform that helps traders navigate the financial markets profitably and with confidence. It is not only a private trading company. FXIFY offers traders a robust platform, a user-friendly interface, and multiple supported services to enable them to thrive in the dynamic trading landscape.

Whether traders are looking to take advantage of short-term market fluctuations or carry out long-term investment strategies, FXIFY provides the framework and support required to achieve their trading goals.

Overall, FXIFY seems like a good prospect. But if you’re looking to get funded instantly, I suggest browsing other options.